11:48 AM EDT, 04/30/2024 (MT Newswires) -- NGEx Minerals ( NGXXF ) on Tuesday said the latest results from drilling at the Lunahuasi project in San Juan Province, Argentina, confirm that the project is a "significant discovery" hosting two distinct styles of porphyry-related mineralization.

Highlights of the assays include 509 meters at 1.33% copper equivalent (CuEq) and 328 meters at 1.10% CuEq.

The two styles are high-grade copper-gold-silver veins and longer intercepts of stockwork mineralization, both of which are demonstrated by the latest results.

Both styles are also interpreted to be part of a major porphyry copper-gold system at Lunahuasi, the company said.

"The results released today are important because they confirm that the Lunahuasi system has major size potential as well as high grades," said Wojtek Wodzicki, president and CEO of NGEx. "All holes in the stockwork zone end in mineralization leaving further expansion potential as we continue to work towards what we believe is the centre of the Lunahuasi system."

NGEx at last look was down C$0.47 to C$9.56 on the Toronto Stock Exchange.

Price: 9.56, Change: -0.47, Percent Change: -4.69